MetLife In Discussion To Acquire Certain Assets Of PineBridge For $1 To $1.5 Bln, Reports Bloomberg

(RTTNews) – MetLife, Inc. (MET), a life insurance major, is in discussion to acquire certain assets of PineBridge Investments, an asset manager, in a deal valued between $1 billion and $1.5 billion, Bloomberg reported quoting people familiar with the matter.

The talks, which are in advanced stage, are exclusively for assets under management or AUM of around $100 billion, outside of China.

PineBridge’s majority stake is owned by Asian billionaire Richard Li’s holding company, Pacific Century Group.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source : Nasdaq